Russia to Keep July Primorsk Urals Exports at Five-Year Low

Russia plans to ship less than a million barrels a day of Urals crude from Primorsk port for a second month, little changed from June, which was the lowest in more than five years, a final loading program showed.

Primorsk on the Baltic Sea will export 38 cargoes of 100,000 metric tons each and one shipment of 30,000 tons in July. The shipments will total 3.83 million tons, or 905,610 barrels a day, the schedule obtained by Bloomberg News showed, which is 2.5 percent down from this month on a barrel-per-day basis. Prior to June, the port had loaded more than a million barrels a day every month since at least March 2008, when Bloomberg began tracking the data.

Exports from Primorsk for June were revised down to 3.8 million tons from 3.9 million tons after one unassigned position failed to be filled. Loadings at Primorsk are currently halted because of a tug boat dispute, Igor Dyomin, spokesman for OAO Transneft, said today by phone. Russia is the world’s largest energy exporter.

Ust-Luga, also on the Baltic, will ship 19 cargoes of 100,000 tons each, unchanged from June, according to the program. That amounts to 449,258 barrels a day.

Exports from Novorossiysk on the Black Sea will reach 3.252 million tons in July, or 768,941 barrels a day, up 2.8 percent from June. The July schedule includes four 80,000-ton cargoes of Siberian Light grade and 28 Urals cargoes.

Novorossiysk has one unassigned slot of 140,000 tons and Ust-Luga has one 100,000-ton position available next month, according to the program.

ESPO Exports

Russia will ship in August 17 cargoes of East Siberia-Pacific Ocean, or ESPO, crude from the Pacific port of Kozmino, two less than June, the plan showed.

Kozmino will load 1.7 million metric tons, or about 401,968 barrels a day, of ESPO blend, according to the schedule. Two of the shipments will be transported by rail from Skovorodino and the rest through the pipeline’s second phase.

Russia’s most expensive infrastructure project, the ESPO pipeline, starts at fields in east Siberia. A second phase of the venture was completed in December that expanded the pipeline’s capacity and also extended the link to the Pacific coast at Kozmino, lessening the need for rail shipments.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.